AMD man involved in insider dealing case

AMD has found itself involved in an insider dealing case
in the US. An unnamed AMD executive is repeatedly named in the
Galleon Funds insider-trading case, presenting a potentially awkward
situation for the chipmaker as the case goes forward.

The bloke has not been named or charged yet, but it will
be a little embarrassing for the chipmaker which might have been
feeling a little smug after Rajiv Goel, a managing director of strategic
investments for Intel's treasury group, was arrested and charged in the
case and put on leave.

A high level IBM exec, senior vice president Robert
Moffat, has also been charged over supplying details about IBM and Sun
Microsystems earnings to Danielle Chiesi, who worked for the New
Castle hedge fund.

An AMD spokesman said that it is reviewing the situation.This case involves Raj Rajaratnam, who founded the
Galleon Group, a New York-based hedge fund that manages $7 billion in funds.
Federal prosecutors charged Rajaratnam and five others on Friday
with securities fraud, alleging they were involved in insider trading of
well-known tech companies, including Intel, Google, AMD, and IBM.

The case claims that Rajaratnam and others engaged in
insider-trading activity when AMD was trying to reorganiae and spin off
its manufacturing operations last year.